Bravada Gold Files PEA for Wind Mountain Gold-Silver Project

The preliminary assessment estimates US$98.1M in initial capital for development at the past-producing Nevada site.

Rhea-AI Summary

Bravada Gold (BGAVF) has filed the preliminary economic assessment technical report for its wholly owned Wind Mountain Gold-Silver Project in Nevada. Independently prepared by RESPEC and Woods Process Services, the report has an effective date of October 15, 2026.

The base case estimates US$415M after-tax net present value at a 5% discount rate, a 60% internal rate of return and two-year payback, assuming US$3,600/oz gold and US$48/oz silver. At US$4,500/oz gold and US$70/oz silver, estimated value rises to US$681M and the return rate to 86%. Initial capital is estimated at US$98.1M. Average annual production is projected at 44,400 gold-equivalent ounces over 11.2 years, with all-in sustaining costs of US$1,653/oz and a 0.20:1 strip ratio. The assessment is preliminary, includes inferred resources and is highly sensitive to metal prices, exchange rates and future cost estimates.

6 points · 1 major

MixediHow this balance works

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

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Rhea-AI Sentiment measures something else, the tone of the wording.

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1 major · 3 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Major point. Forward-looking: it has not happened yet and may not happen.Base-case after-tax net present value at a 5% discount rate is estimated at US$415M.
• Minor point. Forward-looking: it has not happened yet and may not happen.Base-case after-tax internal rate of return is estimated at 60%, with 2.0-year payback.
• Minor point. Forward-looking: it has not happened yet and may not happen.Upside-case estimates reach US$681M after-tax value and 86% return at US$4,500/oz gold and US$70/oz silver.
• Minor point. Forward-looking: it has not happened yet and may not happen.Projected average annual production is 44,400 gold-equivalent ounces over an 11.2-year mine life.
• Minor point. Forward-looking: it has not happened yet and may not happen.Projected all-in sustaining cost is US$1,653/oz, with a 0.20:1 strip ratio.
• Minor pointTechnical report filing completes disclosure of the independently prepared assessment.

Negative

• Major point. Forward-looking: it has not happened yet and may not happen.Initial capital requirements are estimated at US$98.1M. 5.9× market cap
• Minor pointEconomic assessment remains preliminary, rather than a completed development outcome.
• Minor pointEconomic outcomes are highly sensitive to metal prices, exchange rates and future capital and operating cost estimates.

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Vancouver, British Columbia--(Newsfile Corp. - October 16, 2026) - Bravada Gold Corporation (TSXV: BVA) (OTCQB: BGAVF) ("Bravada" or the "Company") is pleased to announce the Company has filed on SEDAR+ the technical report for the Preliminary Economic Assessment ("PEA"), previously announced on August 31, 2026, and completed by RESPEC Company LLC ("RESPEC") and Woods Process Services LLC ("Woods Process") for its 100%-owned Wind Mountain Gold-Silver Project in Nevada, USA.

The Report, entitled "2026 Preliminary Economic Assessment - Wind Mountain Gold-Silver Project, Nevada" was independently prepared by RESPEC and Woods Process in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and has an effective date of October 15, 2026. The Report is available under the Company's profile at www.sedarplus.ca and on the Company's website at www.bravadagold.com.

PEA Highlights - Wind Mountain Gold-Silver Project (for full details, see Company news release dated August 31, 2026)

• Low-capital, brownfield heap-leach development at a past-producing site with existing pits, roads and power

• After-tax NPV(5%):

  • US$415M (C$593M) at US$3,600/oz gold and US$48/oz silver (base case)

  • US$681M (C$973 million) at US$4,500/oz gold and US$70/oz silver (upside case)

• After-tax IRR:

  • 60% (base case)

  • 86% (upside case)

• Initial capital cost: US$98.1M

• Average annual production: 44,400 oz gold equivalent per year over an 11.2-year mine life

• All-in sustaining cost (AISC): US$1,653/oz, with an exceptionally low strip ratio of 0.20:1

• After-tax payback period: 2.0 years (base case)

The Wind Mountain PEA base case assumes a gold price of US$3,600/troy ounce ("oz"), a silver price of US$48/oz and a C$:US$ exchange rate of 0.70.

The PEA and summary above is preliminary in nature and includes the use of Inferred Mineral Resources that are considered too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. The economic outcomes presented above are highly sensitive to changes in metal price and exchange rate assumptions and to future capital and operating cost estimates.

Qualified Persons

The Independent Qualified Persons, as defined in NI 43-101, for the PEA are Michael S. Lindholm, C.P.G., and Kyle Murphy, PE, of RESPEC, and Jeffrey Woods, SME QP, of Woods Process.

Joseph Anthony Kizis, Jr. (AIPG CPG-11513), Vice President of Exploration and a Director of Bravada Gold Corporation, is the qualified person responsible for reviewing and preparing the technical data presented in this release and has approved its disclosure.

About Bravada Gold Corporation

Bravada Gold Corporation is a Nevada-focused gold development company advancing its 100%-owned Wind Mountain Gold-Silver Project towards production, supported by a portfolio of exploration and royalty properties across Nevada's premier gold trends.

Wind Mountain offers a rare brownfield development opportunity, having previously operated as a permitted heap-leach gold-silver mine. Existing pits, haul roads, waste dumps, power infrastructure and road access provide a significant head start, reducing the capital, permitting and execution risks typically associated with developing a new mine.

The Wind Mountain 2026 PEA delivered an after-tax NPV (5%) of US$415 million (C$593 million), and a 60% IRR, based on US$3,600/oz gold. With a low strip ratio, conventional heap-leach processing and established infrastructure, the project offers a compelling pathway toward near-term production in mining-friendly Nevada.

On behalf of the Board of Directors

"Dr. Paul West-Sells"
Dr. Paul West-Sells
President and Chief Executive Officer

For further information, please contact:

Dr. Paul West-Sells, President & CEO
Email: info@bravadagold.com
Phone: +1 (604) 641-2759
Website: bravadagold.com

Forward-Looking Statements

This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding the results of the 2026 PEA, the anticipated Pre-Feasibility Study and its timing, planned drilling and metallurgical programs, and other future plans, objectives, or expectations of the Company. Forward-looking statements are identified by words such as "believes," "anticipates," "expects," "estimates," "may," "could," "would," "will", or "plan". These statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied, including risks related to fluctuations in gold and silver prices and foreign exchange rates, results of exploration and metallurgical testing, capital and operating cost estimates, the preliminary nature of the PEA, permitting and regulatory approvals, and general economic and financial market conditions. Readers should not place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company does not undertake to update any forward-looking statement, whether as a result of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/319322

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the base-case economics for Bravada Gold's Wind Mountain project?

The preliminary assessment estimates US$415M after-tax net present value at a 5% discount rate, a 60% internal rate of return and 2.0-year payback. The base case assumes US$3,600/oz gold, US$48/oz silver and a C$:US$ exchange rate of 0.70.

How much capital and production does Bravada Gold estimate for Wind Mountain?

Wind Mountain's preliminary assessment estimates US$98.1M initial capital and average annual production of 44,400 gold-equivalent ounces over an 11.2-year mine life. Estimated all-in sustaining cost is US$1,653/oz.